Introduction:Auctions are the best way to grab expensive and high-quality goods at much cheaper rates. However, to get success in these auctions you need to know a few basics about bidding.
Leaf through the catalogue of items and do your own research. You must be aware of the market value of a particular item in order to make an appropriate bid on it.
Many a times we see people going through 'auction fever' which is an emotional state that causes the bidder to get excited and deviate from his original bidding strategy. In this condition, the bidder ends up spending more than he had planned to. To avoid this overspending, it is important to plan your budget well before you land up in any auction. Planning will ensure that you spend your money on important items and stick to your plan.
A lot of people believe that their gut instinct is more clever than their brain. However, going with gut instinct is not the best way to bid at an auction. You might end up losing money this away. If you're unsure about any item, staying away is a safer bet.
In a bidding war, at a time when you're far from the amount you have decided to spend on a certain item, being an aggressive bidder will be of good help to you. Increase the bid as soon as the other bidder bids. This may make you look crazy and desperate, but it will discourage the opponent from bidding as he/she might think that you'll go a long way. They will then leave the bid altogether and you get the item at a much lesser rate.
When there are 3-4 bidders bidding for a certain item, act smart. Throw in a bid or two. This will fuel up the bidding war and the buyer will end up losing more money than he had intended to. In this way, the opponent might not have enough left when they are bidding against you for an item that you actually like!
select one here...